AIR Worldwide News

Business News: Kemper, Munich Re, AIR Worldwide

Kemper Corporation announced a refresh of its core brand elements. The rebrand elevates the focus on the company’s strength, stability and transformation, and includes a new logo, positioning and product line architecture. The new bold and vibrant logo in navy …

Hurricane Florence Insured Losses Could Reach $4.6B

Hurricane Florence’s winds and storm surge caused $1.7 billion to $4.6 billion in insured losses along the U.S. Southeast coast, according to an estimate from Verisk Analytics Inc.’s catastrophe risk modeler AIR Worldwide. That doesn’t include the impact of record …

Industry Expected to Withstand Insured Losses From Florence

Changes in the path and intensity of Hurricane Florence are keeping forecasters, government officials and insurers on their toes. An update by AIR Worldwide yesterday indicated that storm surge heights of 9-13 feet could be expected. “Florence’s slow motion just …

Business News: AIR Worldwide, RGL, Encompass

AIR Worldwide Releases Updated Wildfire Model for the United States Catastrophe risk modeling firm AIR Worldwide (AIR) released an updated Wildfire Model for the United States. The model is designed to provide a comprehensive view of the risk of wildfire …

Insurers Begin Modeling Casualty Catastrophes

Scenario-based modeling has been used for property risk for some time, but its application in the casualty area is recent, according to Robin Wilkinson, vice president and managing director of Casualty Analytics at AIR Worldwide, a Verisk business. In an …

People News: AIG, AIR Worldwide, CAIF

AIG Names DeSett Head of Field Operations, North America General Insurance American International Group, Inc. announced that Timothy DeSett will join the company as head of Field Operations, North America General Insurance, reporting to Ken Riegler, chief operating officer, North …

As Recovery Begins, Industry Tallies Irma’s Mounting Costs

With two Florida landfalls in the same day, Hurricane Irma‘s destructive wind and flood damage could cost up to $65 billion for both insured and uninsured losses, according to a recent estimate by CoreLogic. Residential property flood loss is estimated …

Change in Irma’s Course Reduced Economic Loss by $150B

Twenty miles may have made a $150 billion difference. Estimates for the damage Hurricane Irma would inflict on Florida kept mounting as it made its devastating sweep across the Caribbean. It was poised to be the costliest U.S. storm on …

Update: Claims Teams Begin Handling Onslaught of Harvey Cat Losses

Hurricane Harvey has set a U.S record, according to the National Weather Service, dumping 51.88 inches of rain in parts of Texas. As the tropical storm moves over southern Louisiana, claims catastrophe teams are moving in to devastated cities in …

Earthquake Models Continue to Evolve

With a focus on tectonic plate movement, induced quakes and subperils, earthquake models continue to evolve, according to Andrew O’Donnell, senior engineer at AIR Worldwide. Though earthquake modeling has been around awhile, O’Donnell said changes in the models have improved …